Base Metals Sink Again
Nicholas Santiago | Sep 05, 2012 12:50AM ET
Tuesday morning, most of the leading base and industrial metals came under some heavy selling pressure. Traders and investors are now looking at the weakness in the Chinese economy and realizing all of the base metals will be negatively affected. One of the leading base and industrial metal stocks that traders follow are Freeport McMoRan Copper & Gold Inc (NYSE:FCX). FCX stock fell lower by 0.48 cents to $35.63 a share.
Some other leading base and industrial metal stocks that declined include Teck Resources Ltd (USA) (NYSE:TCK), Cliffs Natural Resources Inc (NYSE:CLF), Rio Tinto plc (ADR)(NYSE:RIO), and BHP Billiton Limited (ADR) (NYSE:BHP). This important stock sector remains in a downtrend on the daily charts and is vulnerable to further declines in the near-term future.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.